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wants to raise taxes on the wealthy for instance. is that going to solve the problem, get rid of the bush tax cuts? >> that is not going to solve the problem because we have to remember first of all, there is no such thing as a tax increase that affects only the wealthy. ernst & young predicted we'll lose 700,000 jobs even if we raise taxes only on top two rate brackets. 700,000 jobs. those are not ceo jobs. those are not top one percenters. those are people living paycheck to paycheck. bottom line we can't go back to the american people again and again expect to call that a fair deal when we continue to demand more money of them but we're not willing to change the way we spend money in washington. jon: senator mike lee is a republican of utah. some sobering thoughts there, senator. thanks for sharing them. >> thank you. jenna: we have some brand new developments in the political turmoil raging in egypt today as the country's two highest appeals courts suspend work to protest president morsi's latest move. now that latest move is his decision as president to make anything that
and congress have just one month to prevent tax hikes and spending cuts that really could send the economy according to some right back into a recession. we are glad you are with us on this friday, everybody, i'm jenna lee. jon: i'm jon scott. president obama offering his opening bid to avoid the fiscal cliff but it's not going over well at all with republicans. house speaker john boehner saying no progress has been made in negotiations. mike emanuel is live on capitol hill now. what are the republican complaints, mike, and how are they pushing back at the president? >> reporter: senator john john cornyn who is a member of the rupp leadership says he thinks president obama wants to go over the fiscal cliff by proposing higher taxes, no spending cuts and no plans to save entitlements. with president obama going to pennsylvania today, the house republican whip, kevin mccarthy's office put out a video profiling a small business nearby in pennsylvania that would get hurt by a tax hike. >> i'm jerry gorsky from an engineering company. however good or bad we do is my income. this notion of $250,
of a mandate to increase taxes on wealthy as we all heard. you hear much less about cutting government spending. to make matters worse, citizens sense government waste, congress, especially senate where most members are committee chairman or subcommittee chairman are inate bias against cutting government spending. this is tom schatz. >> they don't want to give up power, jurisdiction or the money. it is also a lot easier for members of congress to run back home and say i'm fixing this problem by spending money. i'm not fixing the problem by solving the problem, and providing the benefits that people need. >> reporter: cutting spending and attending to constituent needs are often very much in conflict, jenna. jenna: we heard a lot of different strategies, haven't we, doug, the ways to tackle the debt and deficit. is there any alternative that really exists besides cutting government waste and spending? >> reporter: one potential avenue they could take would be to actually fall off the fiscal cliff. that would necessarily make the difficult choices that congress and white house seem unwilling to m
of spending cuts and tax hikes. it's set to welcome us all on january 1st if they don't have an agreement. i'm jenna lee. jon: some kind of welcome that would be. i'm jon scott. within hours of seeing the proposal the white house slammed the g.o.p. offer saying quote their plan provides nothing new and provides no details on what deductions they'll limb nature, loopholes they will close or which medicare savings they would achieve. house speaker john boehner inc insists his offer is the best one on the table calling it a credible plan that deserves serious consideration by the white house. jenna: mike emanuel is with us. certainly a challenge to find this ideal plan. what is holding it up. >> reporter: the chairman of the senate budget committee wants a large come proceed hence i have deal in the range of $5 trillion and says a grand bargain can get done if everybody kaoels cool and doesn't overreact to every valley over the net. he this is a camp david-style summit might help things move around. a senate republican told greta van susteren it's time to be honest about retirement benefits. >>
. this is all happening less than a month until accommodation of spending cuts and tax hikes kicks in. right now, it seems like both sides are moving further apart from the deal. here is house speaker john boehner and treasury secretary timothy geithner. >> we are flabbergasted. we have seven weeks between election day in the end of the year. three of those weeks have been wasted. >> we are not going to extend an extension of the tax rates. we think they need to go back to those levels. if you don't do that, you have to ask yourself, whose taxes are we going to raise? were we going to find the money bring a balanced plan in place? jenna: senator lindsey graham, a republican known for reaching across the aisle, not looking at this with a great deal of optimism. >> i think we're going over the fiscal cliff. it's pretty clear that they have made this happen. they are not saving social security and medicare and medicaid from imminent bankruptcy. jenna: james is live in washington with more. reporter: yes, what is clear is increasingly, the two sides -- the obama, white house, senate democrats on one
to tax reform, tax simplification. closing loopholes, closing deductions, but there is a bottom line, an amount of revenue that is required in order for us to get a real, meaningful deficit reduction plan that hits the numbers that are required for us to stabilize our debt and deficits. and -- [. [no audio] kwroe. jenna: we gave it our best shot. sometimes we can't do it. the president speaking at the white house at the business roundtable about the economy. fiscal cliff certainly the issue in the short term for a lot of big businesses and certainly for a lot of american taxpayers. however, long term is another story when it comes to the economy, and entitlements, the president referring to that as well. as we continue to get that feedback you can check it out foxnews.com, in the meantime we're going to move onto other news as well. >> reporter: and so let's begin with the violence that is appearing to really spiral out of control. secretary of state hillary clinton says she fears a desperate president bashar al-assad in syria may resort to using chemical weapons on his own people. i
Search Results 0 to 5 of about 6

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